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Simplifying Federal Student Loan Disclosures for Borrowers

This act aims to make federal student loan terms easier to understand. It introduces a new, plain language disclosure form to help students better assess the total cost of a loan and estimated monthly repayments before borrowing. This empowers citizens to make more informed financial decisions about their education.
Key points
Introduction of a new, easy-to-understand disclosure form for federal student loans.
The form will include key information like annual percentage rate, fees, and estimated monthly repayments.
Borrowers will need to acknowledge in writing that they have read the form before receiving a loan.
The goal is to increase transparency and awareness of student loan costs.
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Status:
Expired
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Additional Information
Student Loan Disclosure Modernization Act
Print number: HR 2874
Sponsor: Rep. Cleaver, Emanuel [D-MO-5]
Process start date: 2021-04-28
System Note: Lustra is free, publicly auditable civic infrastructure, with full source code available on GitHub. You are reading sterilized legislative data, processed by our radical neutrality engine to strip political spin and retain factual mechanics. We process only official government data. Original documents remain the authoritative source, always verify them if you can.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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Summary & Status

Key Questions about Simplifying Federal Student Loan Disclosures for Borrowers

A structured overview of the legislative process, official sources, status and civic context.

What is the official ID of this bill?

The official print number for this legislation is HR 2874.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-04-28.

What are the main provisions?

Key points include:

  • Introduction of a new, easy-to-understand disclosure form for federal student loans.
  • The form will include key information like annual percentage rate, fees, and estimated monthly repayments.
  • Borrowers will need to acknowledge in writing that they have read the form before receiving a loan.
  • The goal is to increase transparency and awareness of student loan costs.

What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Cleaver, Emanuel [D-MO-5].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Education and Labor.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-27.

Analysis and Potential Impact of HR 2874

We don't know, that is up to you to decide. Summarizing raw data with AI is fundamentally different from predicting socio-economic outcomes. As of 2026, we believe impact assessment strictly requires a human in the loop to verify and judge. Review our public AI processing logs for full transparency, and use Lustra to track active legislation for instant status push notifications.

CATEGORIES

Education